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Global Air Insulated Switchgear Market Size study, by Installation by Voltage by Application and Regional Forecasts 2024-2032

Global Air Insulated Switchgear Market Size study, by Installation by...

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Global Air Insulated Switchgear Market Size study, by Installation by Voltage by Application and Regional Forecasts 2024-2032
Global Air Insulated Switchgear Market...
Report Code
RO6/103/1329

Publish Date
30/Aug/2024

Pages
200
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Global Air Insulated Switchgear Market is valued approximately USD 66.52 billion in 2023 and is anticipated to grow with a growth rate of more than 5.0% over the forecast period 2024-2032. Air Insulated Switchgear (AIS) is a type of electrical switchgear that uses air as the primary dielectric medium for insulation between live electrical components. It is one of the most common types of switchgear used in electrical power systems due to its simplicity, reliability, and cost-effectiveness. AIS is widely used in medium and high voltage distribution networks to control, protect, and isolate electrical equipment. The key trend of Air Insulated Switchgear market is growing integration Smart Grid that anticipated to support the market growth. Smart grids require advanced switchgear that can support real-time monitoring, control, and communication capabilities. AIS with integrated smart features meets these requirements, driving its adoption. Also, Smart grids emphasize automation and remote operation to improve grid reliability and efficiency. AIS systems that support these functionalities are increasingly in demand.

Moreover, the increasing adoption of renewable energy sources like wind and solar necessitates robust grid infrastructure for integration and distribution. AIS provides reliable switching solutions suitable for renewable energy applications. Also, the Governments and regulatory bodies are implementing stringent safety regulations regarding electrical infrastructure. AIS, being inherently safer compared to other switchgear technologies like Gas Insulated Switchgear (GIS), gains preference in compliance with these regulations. Additionally, with the growing population and industrialization, there's a consistent demand for electricity. AIS facilitates the efficient distribution and transmission of electrical power, thereby driving its demand. However, higher initial costs and competition from gas-insulated switchgear are likely to limit market growth over the projection period 2024-2032.

The key regions considered for the global Air Insulated Switchgear market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America was the dominating region, in terms of revenue owing to the increasing adoption of renewable energy sources like wind and solar necessitates the expansion and modernization of the electrical grid. AIS is often preferred for renewable energy applications due to its reliability and cost-effectiveness. Also, much of North America's electrical grid infrastructure is aging and in need of replacement or upgrades. AIS provides a reliable and proven solution for upgrading outdated substations and switchyards. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period.

Major market player included in this report are:
General Electric (US)
Siemens (Germany)
Schneider Electric (France)
Mitsubishi Electric Corporation (Japan)
Eaton Corporation (Ireland)
Larsen & Toubro (India)
CG Power and Industrial Solutions Ltd. (India)
Elatec Power Distribution (Germany)
JST Power Equipment (US)
Epe Malaysia (Malaysia)
The detailed segments and sub-segment of the market are explained below:
By Installation
Indoor
Outdoor
By Voltage
Low
Medium
High
By Application
Transmission & Distribution Utilities
Industrial
Commercial & Residential
Transportation
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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